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From the Hotline
who plans to form an LLC in January

My bank has an existing customer who plans to form an LLC in January 2024, and then open a business account in the name of the LLC. There are three LLC members: one is an adult and the other two are his minor children. One child is 17 and has a driver’s license, but the other is 13 and does not have any identification. The two minors own at least 25% of the LLC and the parent owns less than 25%.

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